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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
 The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Grasim cement with Ultra Tech, which together will have a capacity of 49 million tons per annum or 20 per cent of the country's cement production.
The group, which had acquired Ultra Tech from engineering giant L&T in 2004, said it would hive-off Grasim cement into Samruddhi, a wholly owned subsidiary.
The demerged entity would be listed and then merged with UltraTech.
“Post consolidation of Samruddhi and UltraTech, a cement company with a capacity of 49 million tons will be created,” Grasim's whole-time director and chief financial officer, Mr Adesh Gupta told reporters here.
India produces nearly 219 million tons of cement per annum and is the second largest producer of the building material after China.
Presently, the capacity of Grasim is 26 MT and that of UltraTech is 23 million tons. “The entire consolidation would be over in the next 8-10 months,” Mr Gupta said.
The Aditya Birla Group chairman, Mr Kumar Mangalam Birla, in a statement said: “The restructuring move is designed to ensure Grasim's majority stake in, and continued support to, the rapidly-growing cement business, while simultaneously providing Grasim shareholders direct participation in the pure-play cement company.”
Post-merger (Samruddhi and UltraTech), Grasim's holding in the consolidated entity would be somewhere between 55-65 per cent, Mr Gupta said.
“Our holding in the merged entity will be between 55 and 65 per cent as we hold 55 per cent in UltraTech Cement while post-demerger our holding in Samruddhi will be 65 per cent,” he said.
Grasim shareholders would hold 35 per cent in Samruddhi.
The demerger of Grasim Cement is likely to be completed in the last quarter of this fiscal, he said.
As a part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.
The advisors to Grasim's restructuring process are DSP Merrill Lynch, Enam Securities, Amarchand and Mangaldas, Suresh A Shroff and Company and Ernst and Young. PTI
Source: The Statesman
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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
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